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The customers of Universitas vote in favour of easing

by

Alain Thériault

18 December 2018 11:30

Photo : Freepik

The customers of the two products plans, registered education savings plans (RESPS) collective Universitas voted overwhelmingly in favour of maintaining the easing eligibility criteria for educational assistance payments (EAP). This majority is however lower than it was during a first vote in 2017.

Following a meeting of the subscribers held on December 10, 2018, the customers of Plan REEEFLEX voted 75 % for the maintenance of the easing, and those of the Plan UNIVERSITAS, 64 %, reported the promoter of the scholarship plans in a message sent to its customers through its subsidiary, Management, Universitas. The Journal of insurance has obtained a copy.

This is a second vote on the question of easing. In the first vote concluded on October 5, 2017, the underwriters of the plans from Universitas voted 95 % in favour of the reduction of the eligibility criteria for the EAP Plan REEEFLEX, and 91% for the Plan UNIVERSITAS.

Better participation

Gold, Universitas says that its subscribers have participated in large numbers to the new consultation. “It is, in fact, a total of 36 283 clients who voted, which represents an increase of 42 % compared to the first vote had endorsed the proposals of easing in the fall of 2017 “, provides his message.

A little more than 25 000 subscribers had participated in 2017.

Controversy

Universitas has called on its customers to vote a second time on the issue of easing to calm the controversy that has surrounded. Several subscribers had complained to Universitas to have been poorly informed in the first vote.

Several media outlets had echoed their grievances, reporting that the easing had been able to melt the exchanges of approximately 20 %. A decrease driven by a larger number of beneficiaries to a share of the prize pool. The easing abolished in effect the structure of the payments in three installments. The payee no longer had to successfully complete each level of study or school year to receive a payment. He could receive for any recognized training program, part-time or full-time.

Compensation

Universitas has also revealed that he would announce at the beginning of the year 2019 the terms and conditions related to financial measures of mitigation that will reduce impacts to the beneficiaries at a disadvantage by these changes. The sum of these measures will be at least one million dollars ($1 Million).

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